Santa Cruz Office Space
For Sale
Contact for pricing
2880 Soquel Ave, Santa Cruz, CA
Highly visible office space for lease in Santa Cruz.
Property Size9,000 SF
Lot Size1.23 Acres
Price / SF$538.89
Days on Market263
Property Features for 2880 Soquel Ave
General Information
Standard status
Active
Size
9,000 SF
Lot size
1.23 Acres
Property subtype
OFFICE
Lease Type
NNN
Properties For Sale
at 2880 Soquel Ave Contact us- Floor
- 2
- Size
- 4,665 SF
- Type
- OFFICE
- Lease Type
- NNN
- Availability
- AVAILABLE, Now
- Sublease
- No
2880 Soquel Ave
- 17,500 sf available
- 9,000 sf available on ground floor - divisible to approx.3,500...
show more
Contact us
- Floor
- G
- Size
- 9,000 SF
- Type
- OFFICE
- Lease Type
- NNN
- Availability
- AVAILABLE, Now
- Sublease
- No
2880 Soquel Ave
- 17,500 sf available
- 9,000 sf available on ground floor - divisible to approx.3,500...
show more
Contact us
- Floor
- Base
- Size
- 4,000 SF
- Type
- OFFICE
- Lease Type
- NNN
- Availability
- AVAILABLE, Now
- Sublease
- No
2880 Soquel Ave
• 17,500 SF Available
• 9,000 SF available on ground floor - Divisible to approx.3,500...
show more
Contact us
Listing Agency:
J.R. Parrish Commercial Real Estate
(831) 247-2610
Listed By:
Carol Lezin · License #00878937
Source:
Moodyscre
Added: Nov 24, 2025
Changed: Aug 8
Last Checked: May 20 at 8:22PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of J.R. Parrish Commercial Real Estate
Investment Insights
Based on property information with market context.
Approximately 17,500 square feet of office space is available for lease. The ground floor offers 9,000 square feet, divisible to approximately 3,500 square feet, with an additional 4,000 square feet of basement space. The upstairs area provides 4,665 square feet accessible by elevator. Located mid-county at the Soquel/Highway 1 interchange, the property offers high visibility and convenient access to Highway 1, north and south. The property is zoned C-4. Parking is ample, with a ratio of 5 spaces per 1,000 square feet. The building is served by the AT&T fiber network. This well-maintained, two-story property features both elevator and stair access to the second story. Multiple options exist for large open spaces, private offices, conference rooms, and breakroom opportunities. The location offers convenient access within the county.
Key Highlights
- High visibility location at Soquel/Highway 1 interchange.
- Excellent Highway 1 freeway access (north and south).
- Ample parking (5/1,000).
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$221,130
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.56%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,422,600
$4.4M
Cap Rate 7%
$3,159,000
$3.2M
Cap Rate 9%
$2,457,000
$2.5M
Market Conditions
NOI Build-Up for 9,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$378.0K $42.00/SF
− Vacancy
−$83.2K −$9.24/SF
EGI
$294.8K $32.76/SF
− OpEx
−$73.7K −$8.19/SF
NOI
$221.1K $24.57/SF
Area
Santa Cruz County, CA
Vacancy
22.00%
Lease Rate
$42.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,422,600
Cap Rate 7%
$3,159,000
Cap Rate 9%
$2,457,000
Alternative Uses
Best Use
Office B
$3.16M
$2.76M – $3.69M
NOI $221,130 @ 7.0% cap · market cap 4.56%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$5.15M
$4.50M – $6.00M
NOI $360,234 @ 7.0% cap · market cap 7.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,214
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Highly visible office space for lease in Santa Cruz.
Where is this office units located?
The property is located at 2880 Soquel Ave Santa Cruz, CA.
What is the asking price?
The asking price for this property is $4,850,000.
What are key features of this property?
This property features: High visibility location at Soquel/Highway 1 interchange.; Excellent Highway 1 freeway access (north and south).; Ample parking (5/1,000).
